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Kelley’s Market Trends: Flathead Lake Waterfront

The median price in the first six months of 2016 was $580,000 and $611,5000 in 2017

By Jim Kelley

The number of lakefront home sales on Flathead Lake were down from 27 in the first half of 2016 to 22 in 2017. The largest number of lakefront home sales in the first half of the year was in 2006, with 46 sales. The lowest number occurred in 2009, when there were no sales in the first half of the year.

The median lakefront home price was up 5.4 percent and the average price was down 3.9 percent from the first six months of 2016. The median price in the first six months of 2016 was $580,000 and $611,5000 in 2017. The average was $725,611 in the first half of 2016 and dropped to $697,659 in 2017. Because there are relatively few sales, these numbers are not considered to be statistically significant.

There is a current inventory of 123 lake homes on the market, with a median asking price of $1,100,000, compared to $999,250 at this time in 2016. The average asking price is $1,935,171, compared to $1,802,900 in August of 2016. There were a total of 53 waterfront home sales on Flathead Lake in 2016. With 123 listings on the market, there is currently around 29 months of inventory that is on the market. It is also noteworthy that there only 16 (13 percent) active listings of Flathead Lake homes that have asking prices at or below the median sold price of $611,500.